Turkey to increase investments in energy sector of south-eastern provinces

Oil&Gas Materials 23 July 2013 20:23 (UTC +04:00)

Azerbaijan, Baku, July 23 / Trend, A. Taghiyeva /

Turkey intends to invest up to 2 billion lira in energy projects in the south-eastern provinces of the country in the near future, the Lira newspaper wrote on Tuesday.

According to the newspaper, the investment will be mainly made in electricity generation, oil exploration and production and gas pipeline projects.

According to the newspaper, around 800 million lira were invested in south-eastern provinces such as Mardin, Diyarbakir, Sirnak and Hakkari over the course of 10 years.
Around 360 million lira of this amount was invested in the oil exploration and production projects. Thus, around 593 of 1,274 wells in Turkey for 10 years were discovered in the south-eastern provinces.

Moreover, around 35,000 barrels of 45,000 barrels of oil extracted in Turkey every day come from the south-eastern provinces.

The official exchange rate is 1,9151 TRY/USD on July 23.